NEUBERGER BERMAN AND KEY WEALTH ANNOUNCE A PROPRIETARY CUSTOMIZED DIRECT INVESTMENT OFFERING FOR KEY PRIVATE BANK CLIENTS

In an evolution of direct indexing, Neuberger Berman's Customize Direct Investing solution will be integrated into Key Wealth's Equity Strategies to help customize portfolios and manage tax impact for Key clients

CLEVELAND and NEW YORK, March 18, 2024 /PRNewswire/ -- Neuberger Berman, an employee-owned, private, independent investment manager, and Key Wealth, the wealth management business of KeyCorp (NYSE:KEY), announced the introduction of Neuberger Berman's Custom Direct Investing (NB CDI™) solution to tax optimize Key Wealth equity strategies for long-term wealth growth for Key Wealth's high net worth (HNW) and ultra-high net worth (UNHW) clients.

NB CDI™ is a Separately Managed Account (SMA) platform that customizes portfolios to client specifications around tax liabilities, personal values, factor tilts and risk guidelines.

The NB CDI™ platform will provide custom implementation of Key Wealth's proprietary equity strategies including Key Core Equity, Key Sustainable Equity Advantage and Key High Dividend. The customization offered by NB CDI™ aims to enhance Key's existing strategies by seeking to provide clients consistent tax alpha with precise tax loss harvesting. This tax loss harvesting has the potential to offset capital gains within a broader portfolio in a way that ETFs, mutual funds or tax-unaware management cannot. This approach is designed to not only seek to increase after-tax investment returns but also to elevate the overall client experience.

 "We're excited to introduce Neuberger Berman's Custom Direct Investing platform as part of our proprietary equity strategies for our HNW and UHNW clients," said Jonathan Theberge, Director of Wealth Services for Key Wealth. "Providing tax optimization across the entirety of an investor's equity allocation can result in a better client outcome."

"We recognize that taxes can significantly affect portfolio performance, and this is a concern that resonates deeply with our partners and their clients," said Scott Kilgallen, Managing Director and Head of North American intermediary at Neuberger Berman. "By actively implementing tax-efficient strategies tailored to the unique needs of each investor, we empower portfolio managers with a robust tool."

About Neuberger Berman

Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with 2,800 employees in 26 countries. The firm manages $463 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger Berman's investment philosophy is founded on active management, fundamental research and engaged ownership. UNPRI named the firm a Leader, a designation awarded to fewer than 1% of investment firms for excellence in environmental, social and governance practices. Neuberger Berman has been named by Pensions & Investments as the #1 or #2 Best Place to Work in Money Management for each of the last ten years (firms with more than 1,000 employees). Visit www.nb.com for more information. Data as of December 31, 2023.

About Key Wealth

Key Wealth is the wealth management business of KeyCorp (NYSE:KEY) one of the nation's largest bank-based financial services companies with assets of approximately $188 billion at December 31, 2023. Key Wealth provides financial planning, investment, fiduciary, banking and credit, insurance and business solutions tailored to meet our clients' specific goals and needs.

Key Wealth which includes Key Private Bank, Key Family Wealth and Key Institutional Advisors has served our HNW, UHNW and Institutional segments for nearly 200 years.

Key Wealth, Key Private Bank, Key Family Wealth, KeyBank Institutional Advisors and Key Private Client are marketing names for KeyBank National Association (KeyBank) and certain affiliates, such as Key Investment Services LLC (KIS) and KeyCorp Insurance Agency USA Inc. (KIA).

Investing involves risk, including potential loss of principal amount invested. There is no guarantee that investment objectives will be achieved. Past performance does not guarantee future results. Asset allocation and diversification do not guarantee returns or protect against losses.

Investment products and services are:

NOT FDIC INSURED ● NOT BANK GUARANTEED ● MAY LOSE VALUE ● NOT A DEPOSIT ● NOT INSURED BY ANY FEDERAL OR STATE GOVERNMENT AGENCY

CFMA 12032024 -2472183

Media Contacts:

For KeyCorp: Laura Mimura 216.471.2883, [email protected]

For NB: Alex Samuelson, 212 476 5392, [email protected]

All Neuberger Berman information is as of December 31, 2023, unless otherwise indicated and is subject to change without notice. Firm data, including employee and assets under management figures, reflects collective data for the various affiliated investment advisers that are subsidiaries of Neuberger Berman Group LLC. Firm history/timeline includes the history of all firm subsidiaries, including predecessor entities and acquisitions. 

This material is being issued on a limited basis through various global subsidiaries and affiliates of Neuberger Berman Group LLC. Please visit www.nb.com/disclosure-global-communications for the specific entities and jurisdictional limitations and restrictions. The "Neuberger Berman" name and logo are registered service marks of Neuberger Berman Group LLC. © 2024 Neuberger Berman Group LLC. All rights reserved.

 

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